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Nov 30, 2012
11/12
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spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations ahead. we got a little sample of this yesterday from senate majority leader talki
spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending...
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good to see you remapped good to see you as well be one we keep talking about the fiscal cliff. but let me remind you that we are 53 days away of what could be a recession if we don't. tax rates and spending cuts that are all part of the sequestration deal. the exact same second of the exact same day if they don't do something. how do you handle this? robert bennett, with his bipartisan approach coming up next. neil: all right, 53 days until automatic sequestration cuts kicked in. we do not address that, you have heard all of these estimates, and that is all they are. but they could be rosier if we slice three quarters of a percentage point off of the gdp. that could be a hit that turns a recovery into a recession very quickly. no sign that the two sides are willing to even hint of an agreement or even a talking point. revenues could be on the table. so far, universal support among republicans, reining in entitlements, basic fixed costs and government spending. again, they be they figure they have 53 days to do that. but i can be very dangerous. we have two guests with us. both
good to see you remapped good to see you as well be one we keep talking about the fiscal cliff. but let me remind you that we are 53 days away of what could be a recession if we don't. tax rates and spending cuts that are all part of the sequestration deal. the exact same second of the exact same day if they don't do something. how do you handle this? robert bennett, with his bipartisan approach coming up next. neil: all right, 53 days until automatic sequestration cuts kicked in. we do not...
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Dec 4, 2012
12/12
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CSPAN
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january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having, what is going to happen in another 10 years? what happens is, these people earning more than $250,000, they worked from the age of 18 to move up the ladder and finally reached success. the pint the republicans have to make is it is time to lower taxes on middle-class families. it has reached a pinnacle. it is time to may be lower taxes on the middle-class. we have to cut spending because the economy is in such bad positicondition. democrats keep pointing out that 98% of businesses are less than $250,000. 98% of people working in those businesses -- with that went to in
january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having,...
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Nov 10, 2012
11/12
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FOXNEWSW
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the fiscal cliff and spending cuts will wreak havoc. spending cuts would take $1.2 trillion over ten years, 100 billion in the first year. >> these are big cuts, ten to 14% in programs, a quarter of the way through their fiscal year. that's bad policy and dangerous. >> the biggest stumbling block is tax increases. everyone wants to extend the bush tax cuts for those making less than 250,000 a year. the president, however, wants to raise taxes on those making more, and add other taxes to boot. some analysts argue that would crush small businesses which create two-thirds of all jobs. >> the tax increases that president obama has fought for would actually increase taxes on small businesses by about $50 billion a year going forward. >> in 2010 when the economy was growing at 2.3%, president obama extended all the tax cuts, saying the economy was too weak to digest a tax increase. now the economy is growing at only 2%, but mr. obama is forging ahead and senator reid argues he got a mandate to do so. >> the president campaigned around the cou
the fiscal cliff and spending cuts will wreak havoc. spending cuts would take $1.2 trillion over ten years, 100 billion in the first year. >> these are big cuts, ten to 14% in programs, a quarter of the way through their fiscal year. that's bad policy and dangerous. >> the biggest stumbling block is tax increases. everyone wants to extend the bush tax cuts for those making less than 250,000 a year. the president, however, wants to raise taxes on those making more, and add other...
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Nov 15, 2012
11/12
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CNBC
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it is all about the fiscal cliff. talking spending cuts with house financial services committee ranking member barney frank. we'll find out which cuts he thinks both sides can agree on. >>> the two men leading the charge to fix the fiscal cliff db alan simpson and err kin bowles will tell us whether they think washington can rise above the rhetoric and reach a deal. we'll find out if they think an agreement will look anything like the plan they proposed nearly two years ago. >>> maria is still in chicago. i'm in new york. see you at the top of the hour for "closing bell." >>> a frightening headline for anyone who downs those energy drinks to stay awake. fda has received reports of 13 deaths over the last four years that could be related to the use of 5-hour energy. super caffeinated energy shot is what we are talking about. fda also received reports of deaths possibly tied to another energy drink, monster energy. -- story, monster beverage. currently down 25% since that news broke. down 1.6% today. herb's watching thi
it is all about the fiscal cliff. talking spending cuts with house financial services committee ranking member barney frank. we'll find out which cuts he thinks both sides can agree on. >>> the two men leading the charge to fix the fiscal cliff db alan simpson and err kin bowles will tell us whether they think washington can rise above the rhetoric and reach a deal. we'll find out if they think an agreement will look anything like the plan they proposed nearly two years ago....
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Dec 3, 2012
12/12
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FOXNEWSW
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the so-called fiscal cliff was put in law because it was stuff that would be so unacceptable congress would never let it happen, enormous tax increases, grotesque cuts in spending but here we, it is in the law. congress does nothing which congress is good at doing and go over the cliff and some want to see that happen because then the crisis will generate the kind of bipartisan agreement we need but that is irresponsible. >>neil: it is looking more likely. then who picks up the pieces? >>guest: the country suffers. i don't think anyone gains politically. you know that almost everyone here in both parties will tell you if you talk to them privately, this ends with entitlement reform. not cutting programs like medicare but slowing down the growth in the programs because they are the big drivers of the deficit and raising more out of the revenue, out of the tax system. whether you call iterates or reform over whatever you call it, and each those touches the third rail of the parties, we have to get together and say, basically, we have to do something right for the country. if we had a bi
the so-called fiscal cliff was put in law because it was stuff that would be so unacceptable congress would never let it happen, enormous tax increases, grotesque cuts in spending but here we, it is in the law. congress does nothing which congress is good at doing and go over the cliff and some want to see that happen because then the crisis will generate the kind of bipartisan agreement we need but that is irresponsible. >>neil: it is looking more likely. then who picks up the pieces?...
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cliff because i thk that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring erybody about this, like we've got to keep pushinon or the world is going tond and it's not as bad a the politicians are pretending it is even. look, it's not a good thing, but psyched into a level and it will be worse than the real effect of having the tax increase on the government level and that's the danger, using it as a tool to get their policies on boats sides of doing this, and they're going to cause -- the first recession is caused by psyching themselves into it and making people scared that things are going to end if we let it happen. >> toby, the final wor re? >> yeah, now, we've seen this movie before and know how it ends and now, at some point, it's start after tragedy for the unit
cliff because i thk that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring erybody about this, like we've got to keep pushinon or the world is going tond and it's...
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Nov 19, 2012
11/12
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CNBC
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. >>> we all know how much falling off the fiscal cliff will impact taxes and federal spending but how will it affect the states and people who live in them? steve liesman has more bad news on the fiscal cliff. >> this thing is designed to cause pain throughout the country. our mapping of this using diver and lumius, their technology, they were able to heat map federal spending. it does cause pain throughout the country. this is a map, a county by county map of the united states that breaks down by color federal spending per capita. what you see is the red goes from $20,000 to $175,000, yes, all the way down to just $1,000. along the eastern seaboard that's a lot of fema. fema will take an 8% hit. in florida, a lot of social security spending. up here you have the risk management association -- sorry, agency, from department of agriculture. crop subsidy and drought relief comes through here. education, public assistance. the whole spectrum, pretty much, are subject to 8% cuts. let's take a look by state when we look at the total count here. this is from the pew research center. we find
. >>> we all know how much falling off the fiscal cliff will impact taxes and federal spending but how will it affect the states and people who live in them? steve liesman has more bad news on the fiscal cliff. >> this thing is designed to cause pain throughout the country. our mapping of this using diver and lumius, their technology, they were able to heat map federal spending. it does cause pain throughout the country. this is a map, a county by county map of the united states...
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Dec 7, 2012
12/12
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FOXNEWSW
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cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting obama's terms crammed down our throat. boehner needs to get a told of this pr machine and paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage. no, it's him holding the entire country hostage and our kids hostage to his reckless spending and cynical refusal to enter the entitlement reform game. >> i don't even want to hear more about taxes. juan, shaking your head. >> i hear you, gentlemen. you guys are wonderful. merry christmas. but sean you said hyperpartisanship, and david talks about inflexibility. you know, and i'm thinking to
cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting...
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Dec 5, 2012
12/12
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WBAL
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more tough words from the president and republican leaders over the fiscal cliff. as both sides dig in their heels the government is preparing for a worst-case scenario. >> pentagon and other federal agencies are beginning the process for preparing for deep spending cuts. with 27 days to go fiscal friday worked. >> we can't negotiate with ourselves. >> house republican leaders called for a sit-down with president obama and blasted him for turning down their deal. >> he put an offer on if table and he has rejected it. where are the specifics? where are the discussions? >> the president pointed the finger right back. >> nobody wants to get this done more than me. >> telling business leaders that if they use the fiscal cliff to wage a deal they have another thing coming. >> it is a bad strategy for america and it is not a gamely play. >> the stalemate comes as both parties remain at odds on whether to raise taxes on the welty and how deep to cut entitlement programs like social security and medicare. >> just because we're at a stalemate doesn't mean we won't get to a
more tough words from the president and republican leaders over the fiscal cliff. as both sides dig in their heels the government is preparing for a worst-case scenario. >> pentagon and other federal agencies are beginning the process for preparing for deep spending cuts. with 27 days to go fiscal friday worked. >> we can't negotiate with ourselves. >> house republican leaders called for a sit-down with president obama and blasted him for turning down their deal. >> he...
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Sep 22, 2012
09/12
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FBC
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especially if we fall off of the fiscal cliff. if we had the deep spending cuts and increases in taxes that are part of the worst-case scenario. in that case we will probably get a contraction by gdp. that will definitely put us in a painful recession, unemployment will soar well above 10%. gerri: you look at what happened as we approach this fiscal cliff. the one, two, three punch, if you will. the bush tax cuts go away. that hurts. then we have obamacare taxes that come into play. finally, the alternative minimum tax. that starts to hurt millions of americans. there are all kind of additional taxes that come into play also. it is my feeling that americans really do not know the breath of changes that they will be facing coming next year. >> the average tax increase will be close to $4000 for each and every american. that will prove costly. one thing we want to remember is that the united states went through a period where there was a sharp contraction through government. i am talking about the end of world war ii. since we have
especially if we fall off of the fiscal cliff. if we had the deep spending cuts and increases in taxes that are part of the worst-case scenario. in that case we will probably get a contraction by gdp. that will definitely put us in a painful recession, unemployment will soar well above 10%. gerri: you look at what happened as we approach this fiscal cliff. the one, two, three punch, if you will. the bush tax cuts go away. that hurts. then we have obamacare taxes that come into play. finally,...
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Nov 17, 2012
11/12
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WUSA
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cliff. >> it was a constructive meeting. we all understand where we are. >> we all know that something has to be done. there is no more let's do it some other time. >> the parties have to agree on major spending cuts, but taxes are the big sticking point. president obama wants to raise the tax rates on the individuals making more than $200,000 a year, but the republicans say absolutely not, however they do claim to be opened to other ways of raising that revenue. lawmakers are pushing for a deal before christmas. but a new poll shows that 51% of the americans do not believe that congress and the white house will get to that deal. anita? >>> well, the government watchdog group, the washington guardians are giving out their golden hammer and an award that no one wants to win. this week it goes to health and human services for wasting billions of dollars. medicare has produced their own anti-fraud video and has their own fraud detection program. but investigators still found the exaggerated billings paid at the nursing homes, s
cliff. >> it was a constructive meeting. we all understand where we are. >> we all know that something has to be done. there is no more let's do it some other time. >> the parties have to agree on major spending cuts, but taxes are the big sticking point. president obama wants to raise the tax rates on the individuals making more than $200,000 a year, but the republicans say absolutely not, however they do claim to be opened to other ways of raising that revenue. lawmakers are...
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Nov 8, 2012
11/12
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KPIX
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the president and congress will have to work together to overcome the looming fiscal cliff. that would involve automatic drastic spending cuts and tax increases at the end the year if no deal is reached. both sides are indicating a give and take. >> we're willing to accept new revenue under the right conditions. what matters is where the increased revenue comes from and what type of reform comes with it. >> it's better to dance than to fight. it's better to work together. >> reporter: and voters are counting on it. tara mergener for cbs news, the white house. >>> cbs moneywatch time now on a thursday. worries about the fiscal cliff are already affecting stocks around the world. erica ferrari with more on that. >> reporter: asian markets tumbled over worries about the looming budget crisis here in the u.s. the nikkei lost 1.5%. hit a three week closing low. hong kong's hang seng fell more than 2%. the uncertainty of a divided government sent stocks plunging on wall street. the dow had its worst day of the year falling nearly 313 points to finish below 13,000 for the first tim
the president and congress will have to work together to overcome the looming fiscal cliff. that would involve automatic drastic spending cuts and tax increases at the end the year if no deal is reached. both sides are indicating a give and take. >> we're willing to accept new revenue under the right conditions. what matters is where the increased revenue comes from and what type of reform comes with it. >> it's better to dance than to fight. it's better to work together. >>...
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Nov 7, 2012
11/12
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KOFY
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he needs a budget deal to prevent a fiscal cliff. if he captain deep spending cuts and tax increases will kick in next year. >> reporter: good afternoon. president obama the night here in chicago. he and his family will return to the white house later this afternoon. somehow he overcame a historically slow economy and high unemployment to win four more years. crowds rejoiced in times square, outside the white house and in chicago. >> the president: i want to thank every american who participated in this election. whether you voted for the very first time or waited in line for a very longtime. by the way, we have to fix that. >> reporter: the outcome became clear before midnight as the mid western firewall held firm. >> the president: we have fought our way back. and we know in our hearts that for the united states of america, the best is yet to comement. >> reporter: the latest numbers in the electoral college 303 for president obama, 206 for romney. florida still too close to call. the popular vote for president obama, 59 million vo
he needs a budget deal to prevent a fiscal cliff. if he captain deep spending cuts and tax increases will kick in next year. >> reporter: good afternoon. president obama the night here in chicago. he and his family will return to the white house later this afternoon. somehow he overcame a historically slow economy and high unemployment to win four more years. crowds rejoiced in times square, outside the white house and in chicago. >> the president: i want to thank every american who...
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Dec 28, 2012
12/12
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MSNBCW
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if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first step. then speaker boehner and the president come together. they are within $500 billion of step two. $3 trillion debt reduction. all he is there to do is come back and -- $2.5 trillion -- >> next ten years. >> that's where we need them to generate the political will that's right for america's economy. >> i want to ask you about political will. we look at he is mums and it seems there is a lot of republicans that are weary of the -- agreeing to any deal because of a threat of a primary. a lot of the folks in the house chop from conservative districts. barack obama is a bad word. they do
if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first...
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Dec 7, 2012
12/12
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FOXNEWSW
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we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every day, without a super her overoutfit. >> and i often watch with my dad and i think you are funny but i wonder, was he an odd kid? you seem like you would have done some odd things? >> well, if you call always worrying about the planet trying to say that the odds, well, guilty. >> kathy from hotmail, i love you, not in a romantic we because you saw it as it is. why not run for budget? i was too busy being a super hero, leaving mere mortals to lead. >> from north carolina, thanks for chewing out congress, and i am thinking of watching "lincoln" rather than fixing the economic problems. any in the of harry reid getting
we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every...
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Nov 16, 2012
11/12
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FBC
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part of what is going on, certainly in the stock market to be anxious about of the fiscal cliff workout. i think most people were ready once the president was reelected . i guess they will work out how, but i don't think they entertained that there would not even address spending because the proposal so far, a prominent democrats in the nancy pelosi in the house, not touching entitlements, the sentiment among some of these liberal senators who want to a get 30 signatures on this letter. don't touch pretty much any spending. >> and you are looking at the market today, continuing to sell-off. and we are entering into correction territory. some people we will scream this market is oersold. the reaction it was too fierce. the presidential election, but something to point out, if you look back at history typically after a presidential election you normally get a bump in the market because there is certainty brought to the market. republican or democrat, it's over. but this time not the case. there is just no certainty for companies or investors. you do have this mass exodus from the stock ma
part of what is going on, certainly in the stock market to be anxious about of the fiscal cliff workout. i think most people were ready once the president was reelected . i guess they will work out how, but i don't think they entertained that there would not even address spending because the proposal so far, a prominent democrats in the nancy pelosi in the house, not touching entitlements, the sentiment among some of these liberal senators who want to a get 30 signatures on this letter. don't...
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Dec 3, 2012
12/12
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KPIX
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. >> so the called fiscal cliff of mandatory tax increases and spending cuts is to you just 30 days away. but judging by today's talk in washington democrats and republicans are hardly any closer to finding a solution. here's anna werner. >> reporter: a week closer to the december 31st deadline, treasury secretary timothy geithner told bob schieffer any potential deal will have to include a tax hike on the upper 2% of income earners. >> there is no way to raise a meaningful amount of revenue relative to the size of our fiscal challenge by just limiting the value of deductions for the wealthiest americans. >> reporter: he said the biggest obstacle is republicans who refuse to acknowledge that fact. >> there's nothing that stands in the way of that agreement. except for the potential risk that a group of republicans decide, they hold up an agreement because they want to extend tax cuts for the wealthiest that we can't afford. >> reporter: on fox news 2 sunday speaker john boehner was not optimistic. >> i would say we're nowhere. period. we're nowhere. >> reporter: earlier this week house g
. >> so the called fiscal cliff of mandatory tax increases and spending cuts is to you just 30 days away. but judging by today's talk in washington democrats and republicans are hardly any closer to finding a solution. here's anna werner. >> reporter: a week closer to the december 31st deadline, treasury secretary timothy geithner told bob schieffer any potential deal will have to include a tax hike on the upper 2% of income earners. >> there is no way to raise a meaningful...
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Dec 5, 2012
12/12
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CSPAN2
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. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the city prepared to mark the bombing of the city in 1945. >> you know, everybody has their own view what happened, and i, i don't, i don't want to argue survival with anyone in japan about the history. i think we're past that. my whole purpose for being here is to listen, to honor the dead, to listen to the living and to see -- to do what i can to see this doesn't happen again. >> clifton truman daniel will join us sunday at 9 p.m. eastern on c-span3. >> now, a discussion of how the military and national security might be affected by spending cuts scheduled to take effect the first of the year. part
. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the...
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Nov 2, 2012
11/12
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KQEH
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cuts; or they can jump off the so-called fiscal cliff and see if the economy follows. darren gersh, nbr, washington.g >> tom: retail sales moved higher in october as retailers closed their books on the month before sandy rushed asre.d macy's surprised with a better than expected 4% sales gains; kohl's and targ also fared well.fa warehouse store costco was up 5%, while nordstrom was the standout. the high-end retailer posting a near 10% sales gain. >> susie: and auto sales moved higher in october, despite hurricane sdy crimping sales in the final days of the month.i sales at g.m. rose almost 5% on strength in its cadillac and buick brands. at ford, sales barely budged, just four tenths of a percent. thauto maker believes the massive storm cost the industry as many as 25,000 sales in the last three days of the month.au chrysler was up 10%, led by its ram pickup truck. toyota's sales were up 16%, while honda gained about half that. also from ford today, some management news that looks like a succession plan. mark fields was tapped to be chief operating officer, a move see
cuts; or they can jump off the so-called fiscal cliff and see if the economy follows. darren gersh, nbr, washington.g >> tom: retail sales moved higher in october as retailers closed their books on the month before sandy rushed asre.d macy's surprised with a better than expected 4% sales gains; kohl's and targ also fared well.fa warehouse store costco was up 5%, while nordstrom was the standout. the high-end retailer posting a near 10% sales gain. >> susie: and auto sales moved...
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Nov 10, 2012
11/12
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CNNW
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i'm talking about the fiscal cliff. those drastic spending cuts and tax hikes that kick in if president obama and congress don't strike a budget deal by the end of the year. tom foreman reports the president could get some pointers from a former president who was also a master negotiator, abraham lincoln. >> reporter: for those looking for inspiration in these troubled times, the new movie "lincoln" may be just what the director ordered. by all accounts, a mix of personal and political wisdom. >> it is a self-evident truth of things which are equal to the same thing are equal to each other. >> reporter: at the white house, president obama has long admired the 16th president. he took the oath on the same bible lincoln used. he stopped by the lincoln memorial. he often reads about lincoln and he's quite fond of quoting the rail splitter. >> i'm far more mindful of my own failings knowing exactly what lincoln meant when he said i have been driven to my knees many times by the overwhelming conviction that i had no place els
i'm talking about the fiscal cliff. those drastic spending cuts and tax hikes that kick in if president obama and congress don't strike a budget deal by the end of the year. tom foreman reports the president could get some pointers from a former president who was also a master negotiator, abraham lincoln. >> reporter: for those looking for inspiration in these troubled times, the new movie "lincoln" may be just what the director ordered. by all accounts, a mix of personal and...
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spending cuts, maybe. all of this the battle over the fiscal cliff. joining us is arch laugher, former advisor to president reagan and a valued guest on "varney and company". welcome back. >> thank you. lovely to be of value. stuart: i like the word value. >> it is a wonderful word. stuart: we have forgotten the true meaning of value but that is another story. i have been saying throughout the day that i think there may well be a fiscal cliff deal and that deal would be higher taxes now, immediately, promises of spending cuts down the road and according to richard trumka, don't care about the deficit. you go along with that? is that the kind of deal that might shape up? >> it makes sense. frankly republicans have lost heart. they shouldn't have but they have. that is the type of deal you will see happening and you will see a fiscal cliff. i don't like to call it is cliff. i like to call it tax armageddon. of the tax rate on the rich don't you will see a poor performance in 2013. you are going to see it anyway because people have already shifting, out
spending cuts, maybe. all of this the battle over the fiscal cliff. joining us is arch laugher, former advisor to president reagan and a valued guest on "varney and company". welcome back. >> thank you. lovely to be of value. stuart: i like the word value. >> it is a wonderful word. stuart: we have forgotten the true meaning of value but that is another story. i have been saying throughout the day that i think there may well be a fiscal cliff deal and that deal would be...
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Dec 11, 2012
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>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they don't happen it is an excuse. neil: it is peppered with good intention of leaders whose say stick to your end of the bargain. >> money has to be on the table. criminal defense lawyers they of front because they don't pay. [laughter] give me my retainer. you can do when. republicans could give on the rate. 37 ha in return when the $1 trillion of spending cuts have been. what did the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be real cuts happening at the same time. neil: rudy guiliani. i am headed to washington to sav
>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they...
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the fiscal cliff that pushes our economy into another recession. the lower economy and higher taxes a bad cocktail. , promised a new era but that reminds me of groundhog's day. it is great to have my guess here. the perfect do well to talk monday morning quarterback. yourself awful the president today actually calling on boehner and harry reid to say we have to come together. we could have seen more of that from the first administrations that he is doing it now. what are the odds they get together? >> everyboby hopes they are high but you want to avoid the high stakes game of chicken and during the lame duck session. that could have been. but his willingness to meet with mitt romney and boehner to resolve the situation. but if you heard voters press conference he sounds like he is the same position under no circumstances will taxes ever be raised. gerri: he said the reelection of the president is not a mandate to raise taxes. this is a huge debate. can they come together? >> i believe we can seize the future together. we're not as divided as our po
the fiscal cliff that pushes our economy into another recession. the lower economy and higher taxes a bad cocktail. , promised a new era but that reminds me of groundhog's day. it is great to have my guess here. the perfect do well to talk monday morning quarterback. yourself awful the president today actually calling on boehner and harry reid to say we have to come together. we could have seen more of that from the first administrations that he is doing it now. what are the odds they get...
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Dec 10, 2012
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. >> reporter: the impending fiscal cliff could mean higher taxes on small businesses like this and reduced spending by uneasy customers, weary of another recession. >> what if we need to raise taxes? and people have less money because their taxes are raised too. >> we need to make sure too as a community we stay strong and we protect our customers and our businesses. our own little government almost. >> reporter: the donuts are so fresh that the bakery repeatedly ran out until the next batch was ready. >> i just sold my last one. >> we're not going to make anymore today. i really can't. there will be a second of them. >> what else? >> i need the food tray. >> i have one left. >> if most customers can wait patiently, at times for more than an hour, maybe just maybe even bitter fiscal cliff disagreements can be negotiated. andrea mccaren, 9news. >> wow. we've got a deadly shooting near an airport. authorities in cleveland said that a man fatally shot his wife and then fired at the second person before shooting and killing himself. it occurred this morning and that employee parking lot of cle
. >> reporter: the impending fiscal cliff could mean higher taxes on small businesses like this and reduced spending by uneasy customers, weary of another recession. >> what if we need to raise taxes? and people have less money because their taxes are raised too. >> we need to make sure too as a community we stay strong and we protect our customers and our businesses. our own little government almost. >> reporter: the donuts are so fresh that the bakery repeatedly ran...
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Nov 30, 2012
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that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spending out of medicare and we reformed the program. we have looking toward new ways t
that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to...
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. >> arthel: lawmakers now have exactly one month to strike a deal to avoid the fiscal cliff. tax hikes affecting nearly all americans and across the board spending cuts set to kick in at the end of the year. so far both republicans and democrats are digging in on their demands and neither is putting forth a plan. >> i'm willing to move forward in good faith. our original framework still stands. instead of raising tax rates, we can produce similar amount of revenue reforming the tax code to close loopholes and lower tax rates. that's far better for the economy. >> the clock is ticking. the year is ending. it's really important with tax legislation for it to happen now. we're calling upon the republican leadership in the house to bring this legislation to the floor next week. >> arthel: let's bring in steve centanni with more. >> as you can see, the two sides are taking strong stands on principle, but aren't really getting any closer to a compromise as we speed toward that fiscal cliff. the president hit the road appearing at a pennsylvania toy factory yesterday and appealing f
. >> arthel: lawmakers now have exactly one month to strike a deal to avoid the fiscal cliff. tax hikes affecting nearly all americans and across the board spending cuts set to kick in at the end of the year. so far both republicans and democrats are digging in on their demands and neither is putting forth a plan. >> i'm willing to move forward in good faith. our original framework still stands. instead of raising tax rates, we can produce similar amount of revenue reforming the tax...
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Dec 21, 2012
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cliff mess and he will issue a statement at 5:00 p.m. that implies no questions. this is something that can certainly postpone his planned trip to hawaii if christmas. but this gets closer to fought only christmas but to a dead line and a cliff that is now looking a lot more real. hurricane sandy may have taken away this family's home but the storm cannot take away their holiday. a group of caring americans was able to save this family's christmas. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with unlimited talk and text. hurry in for a droid incredible 4g lte by htc for $49.99. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for
cliff mess and he will issue a statement at 5:00 p.m. that implies no questions. this is something that can certainly postpone his planned trip to hawaii if christmas. but this gets closer to fought only christmas but to a dead line and a cliff that is now looking a lot more real. hurricane sandy may have taken away this family's home but the storm cannot take away their holiday. a group of caring americans was able to save this family's christmas. this holiday, share everything. share...
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Nov 26, 2012
11/12
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cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected, ye hopes to expand california's online voter registration program into an online voting program. >>> that fog is hanging tough today itch >> worst spot is sfo, just a quarter mile visibility there, sunny and -- sunny and 60 in san jose now. fog in the north bay improving, we are looking at oakland, with foggy conditions, and vollmer peak. a big change all straight ahead. >>> plus, the hidden dangers of those bouncey houses. new report on how many kids they send to the hospital. >>> some bay area school kids get a surprise visit from one of the stars ron: years ago i made a promise to provide the best for m
cuts known as the fiscal cliff go into effect this is a live look of the senate floor, you see mcconnell the minority leader speaking now. president obama and congressional leaders are not expected to meet this week they want give staffers more time to work through differences first. the president is expected to hit the road to lied public support for his proposal. -- road to mobilize public support for his proposal. >>> current secretary of date will be termed out in 2014, if elected,...
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Dec 6, 2012
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now that is important to get the resources, but at a time when we are talking about the fiscal cliff, soaring deficits and whatnot i asked whether or not that will be paid for. they will come up with other budget offsets or the emergency money will go straight to the deficit. he said it was unclear. that probably means it will go to the deficit. as you know they are having a hard time right now finding other things to cut in terms of spending. so while there are people who need it, that's going to be another major issue moving forward. how the federal government will spend about $50 billion when right now we are pretty much broke, neil. >> incredible. they know it is a nonstarter. do they not care? >> it is probably going to end up, as you know, you have seen this before, folded into the rest of the negotiations. you are right. there will be p republicans objecting. some said we don't need budget offset. there are republicans saying yes we do. it will probably end up getting rolled into the broader fight over the fiscal cliff. it is unlikely they will get pay fors. >> ed henry, thank
now that is important to get the resources, but at a time when we are talking about the fiscal cliff, soaring deficits and whatnot i asked whether or not that will be paid for. they will come up with other budget offsets or the emergency money will go straight to the deficit. he said it was unclear. that probably means it will go to the deficit. as you know they are having a hard time right now finding other things to cut in terms of spending. so while there are people who need it, that's going...
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good to see you remapped good to see you as well be one we keep talking about the fiscal cliff. but let me remind you that we are 53 days away of what uld be a ression if we don't. tax rates and spending cuts that are all part of the sequestration eal. the exact same second of the exact same day they don't do something. how do you handle this? robert bennett, with his robert bennett, with his bipartisan approach coming up this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got 'blacked out'. [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! neil: all right, 53 days until automatic sequestratiocuts kicked in. we do not address that, you have heard all of these estimates, and that is all they are. but they could be rosier if we slice thre
good to see you remapped good to see you as well be one we keep talking about the fiscal cliff. but let me remind you that we are 53 days away of what uld be a ression if we don't. tax rates and spending cuts that are all part of the sequestration eal. the exact same second of the exact same day they don't do something. how do you handle this? robert bennett, with his robert bennett, with his bipartisan approach coming up this family used capital one venture miles to come home for the holidays....
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Dec 8, 2012
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cliff. how would you describe your temperature, your feeling that there will be some kind of accommodation and a deal even on the tax and spending and sequester side or both? >> good morning. glad to be with you and give you my perspective on where we are. to the beginning of your question, i often say one i am giving remarks that -- people in the same group, no matter how ponce and they are, people -- no matter how partis and they are, people will say two things. i want you to go to washington and stand on your principal. i want you to fight for us. i say, i will. someone else will get up and say, i want you to compromise and find the middle ground and get things done. this is the 10th time this just happen to me. i say, that is exactly what they hired me to do, to figure out how we do both of those things. it is our job as representatives in congress, to fight for our values and the principles we believe in and still can something done. that is where we are right now. the divide we are fac
cliff. how would you describe your temperature, your feeling that there will be some kind of accommodation and a deal even on the tax and spending and sequester side or both? >> good morning. glad to be with you and give you my perspective on where we are. to the beginning of your question, i often say one i am giving remarks that -- people in the same group, no matter how ponce and they are, people -- no matter how partis and they are, people will say two things. i want you to go to...
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Dec 13, 2012
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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Oct 26, 2012
10/12
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we are heading 40 fiscal cliff. how much more can the government go, how much more can we spend? that is why you are seeing in the trade today mixed market continuing up and down. can't find that momentum to break through on the upside to make new highs. liz: we can spin it forward fbn bob's bob and we get the jobs number soon and people will be looking for that final jobs report before the election. how much power does that hold? >> holds a lot of power. that is something the market really is going to focus on next week. you need a big upward surprise in jobs next week to really have the market gained momentum and i think make people feel like there is momentum in the economy. even if the number comes in lackluster ahead of a presidential election that carries a lot of weight on which direction the market will move particularly as we move post presidential election. dave: what is happening with commodities? we have seen gold test the 1700 mark. it out but did not go anywhere today. >> when you look at commodities, gold in particular it is a two day trade. you mentioned inflation
we are heading 40 fiscal cliff. how much more can the government go, how much more can we spend? that is why you are seeing in the trade today mixed market continuing up and down. can't find that momentum to break through on the upside to make new highs. liz: we can spin it forward fbn bob's bob and we get the jobs number soon and people will be looking for that final jobs report before the election. how much power does that hold? >> holds a lot of power. that is something the market...
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Nov 14, 2012
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neil: let's talk a little bit about what happens with the fiscal cliff. do you think we will avoid it? >> i think that it is important that we avoid it because it could throw us back into recession. but we don't need is a tax increase and deep spending cuts, which are just across the board, a crazy way to cut spending even if you want to cut spending. neil: direcr, i know they seem like they cuts, but tenures curbing the growth, we just did the lexicon on? >> well, it depends what you're talking about. the immediate seuestration cuts would be an appropriations right away. but you are right that with respect to entitlements, what e need to be talking about is how to cut the growth. we will have a lot more people that are seniors that will have earnedbenefits that are in social security. those programs are going to go. but they can grow as fast as the production now, or we will have an ever rising debt. neil: there is that. i forgot about that. let me ask you, senator patty murray has raised the possibility is on one of the weekend talk shows, i think -- re
neil: let's talk a little bit about what happens with the fiscal cliff. do you think we will avoid it? >> i think that it is important that we avoid it because it could throw us back into recession. but we don't need is a tax increase and deep spending cuts, which are just across the board, a crazy way to cut spending even if you want to cut spending. neil: direcr, i know they seem like they cuts, but tenures curbing the growth, we just did the lexicon on? >> well, it depends what...
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Nov 22, 2012
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fixing the fiscal cliff fiasco. here we have it under control. if no one else is going to step up with a solution, we will get it started with our own answers about where to start with spending cuts. joining me to go through the ideas is our chief economist. brian, thank you for coming back on the show. >> thank you for having made. melissa: i am so sick of people coming on and saying what the other guy is going to give and not have a solution and i said, you know what, let's roll up our sleeves and get to work and come up with some solutions. we are talking about raising taxes and we haven't really drill down on the possible spending cuts out there. for example, senator coburn showing $67.9 million. it can be saved over the next 10 years by cutting nondefense spending. among those things. it was a huge report, more than 400 pages filled with all kinds of stuff. some examples were a smart phone half that alerts users when to take their coffee break. i feel like we are things we could be cutting. what do you think? >> the federal government is spe
fixing the fiscal cliff fiasco. here we have it under control. if no one else is going to step up with a solution, we will get it started with our own answers about where to start with spending cuts. joining me to go through the ideas is our chief economist. brian, thank you for coming back on the show. >> thank you for having made. melissa: i am so sick of people coming on and saying what the other guy is going to give and not have a solution and i said, you know what, let's roll up our...
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Dec 10, 2012
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if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to entitlements. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going well for some democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing health care costs. danielle nottingham, cbs news, washington. >>> the official fiscal cliff deadline is december 31. but many on capitol hill say that an agreement is needed before the end of this week so congre
if they can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across the board spending cuts will kick in on january 1. economists say that combination could plunge the country back into a recession. there are signs some republicans are now willing to compromise on taxes if they can secure cuts to social security, medicare and medicaid. >> the rate increase on the top 2% that the president is talking about and all of a sudden the shift goes back to...